Mar 21 (LTIT) - The March 2019 Copper Bulletin published by the International Copper Study Group (ICSG) signals marginal increase in world refined copper output during the entire year 2018.

According to data, world refined production increased marginally by 1.5% during the previous year. The primary production increased marginally by 2%, whereas the secondary production witnessed a decline of almost 1%.

The primary contributor to refined output growth was China, which continued to expand its capacity. The Japanese output rose by 7% when compared with the year before. The output by Chile rose marginally by 1.3% over 2017, mainly on account of comparatively lower output in 2017 on account of a series of smelter shutdowns for maintenance. However, overall growth was partially offset by 34% output decline in India, due to shutdown of Vedanta’s smelter operation in southern India. Germany, Poland and the Philippines too reported production declines during 2018.

The world mine production has increased by around 2.3%. Chile’s production was up by 6%. The copper concentrate output by Indonesia has surged higher by 5% over the previous year. The DRC and Zambia recorded notable jump in SX-EW output by 16% and 8% respectively. The overall growth was impacted by lower output from the U.S. and Canada.

The world apparent usage of refined copper stood higher by 2% year-on-year, mainly driven by 5% surge in Chinese apparent usage.